Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1887-02-11
ALEGISLATTE REFLEX.

The numerous measures now pending
in the Texas Legislature, contemplating
state regulation, measurably, of railway
and telephone companies, suppressing
"bucket-shops, restricting the opera
tons of corporations, etc, may lead some
people to the conclusion that the Texas
law, makers are exhibiting more zeal than
discretion, or at least that they are pro-
ceeding at rate not known or contem
plated in other states. The apprehension
mas been expressed by conservative peo-
pie that cur Legislature is altogether too
ready to essay control and regulation Of
corporations, and consequently of capital
too eager to interfere with the workings
and operations Of Legitimate business en-
terpTises. and that as result this tinker
ing of existing laws, as well as the enact
ment of new ones, will deter, to some eX-
lent, the further investment of capital in
the state, and keep away men whose pres
ence and influence is helpful. THE GA
zETTE will not attempt to say that all the
measures OF the kind alluded TO, now
receiving legislative consideration,
are wise, Just or desirable. Some of
them are certainly Of very questionable
wisdom; and some OF the m o tely,
will never become laws. But it must be
said, in behalf of the Texas Lawmakers,
that in the respects referred to they are
by no means ahead of legislatures in
other states. All over the country the
people are calling for protection from
corporate capital, from monopolies and
from gambling in commodities that Consti-
tute necesssries Of life or of prime use
in the daily life of the people. In New
York, where the Legislature is now in
session, there are number of bills pend
ing, any one OF which is more drastic
than any measure yet proposed in the
Texas Legislature. For example, there
is bill that no corporation doing bust
ness in New York shall be allowed to
earn more than 10 per cent. net per ar
nun on the f4ce value OF its investment
OF stock; ell earned over that sum is
to be corliscated by the STATE.
A system is provided to ascertain
exactly what is earned by corporations, ),
and the penalties are very severe. The
GAZETTE here remar5s that it regards
such measure as very unwise, and cal
culated to exercise an unduly repressive
effect on capital. But that is New YOTk's
concern, and not THE GAzETTE's.
Again, there is another bill making it a
conspiracy to organize a pool to with
draw any products from the market, or
to allow only portion of them to reach
the market. This is designed to break up
corners" resulting in running the
prices of provisions, coel, and such things
up to fictitious values. The New York
Legislature has also passed a bill regu.
lating the telephone business that is far
more stringent than Senator Jarvis
measure, which has encountered so much
criticism in Texas. These facts are cited
10 reassure those who are alarmed
at the tendency Of legislation in
Texas. Our legislators are in fact only
en- rapport with the spirit that prevails
rapid growth OF corporate power, very
often assuming monopolistic form, has
undoubtedly alarmed the people Of the
United States, and there is general de-
mand for restrictive policy. 1t is an
aspiration born of the principle of self
defense, and therefore perfectly legiti-
mate. The danger is that it may take
too drastic shape and go to extremes,
and it is the part of patriotic conserva-
tism to guard against such result. The
popular demand, however, must be met,
and this will explain why, in Texas and
so many other states, legislatures are
moving in direction that calls forth the
criticism and protests of the interests
affected. But there will always be fair
field and fair play for every legitimate en-
terprise and for capital in this country.
While the people are nervous and
alarmed there is broad su5-stra;um
Of common sense and justice at
the bottom of the movement, and ii
legislation does perchance, essaying re-
form and protection, go too far tie
people are just enough to right sny
wrong that may be done. Common
sense ard justice will prevail.